Housekeeping: Good Morning.
There is no support in a bear market. There is no resistance in a bull market.
Today
Discussion: Technical Commentary
Premium: The Day Ahead
Analysis: Technical Updates
GoldFix on Gold:
Pre April 2 = buy dips, sell strength
Post April 2= sell dips, buy strength
Between $2,988 and 3,000= buying
Above $3040= new CTA buying
Selling: none really until after April 2
GoldFix on Silver:
Between 32.30 and 31.94 buying
Some selling 33.80
Close below 32.94 negates measured move. Otherwise $35
Featured:
Markets Recap:
The Dow and the S&P 500 ended nearly unchanged, recovering from earlier lows following President Donald Trump’s comments on tariff reprieve. The benchmark 10-year Treasury yield rose but traded in a tight range on tariff and economic concerns. The dollar gained putting pressure on gold prices. Oil edged up as fresh Iran sanctions and latest output plan from the OPEC+ raised supply concerns.
Market News:
Trump awards Boeing much-needed win with F-47 fighter jet contract
J&J boosts US investments by 25% over 4 years amid looming tariff threats
FedEx shares slide as annual forecast cuts stoke worries on economy and development infrastructure.
Nike tumbles to five-year low as sales decline forecast clouds quick turnaround hopes
EXCLUSIVE-JPMorgan asset management unit quits industry climate coalition
Full stories in Premium…
Geopolitics/ Politics:
MIDDLE EAST
"Israeli Channel 12 on government sources: The military operation will be expanded and what we have done so far has not pushed Hamas to any understandings towards reaching a deal", according to Al Jazeera.
AP said Egypt has put forward a new proposal to try to put the ceasefire between Israel and Hamas back on track.
Negotiations between the delegations of the Russian Federation and the US last about two hours; "the parties do not plan to complete the meeting in the near future", according to TASS.
Russia's Kremlin said Saudi Arabia negotiations are underway on technical issues, there are many different aspects related to a settlement in Ukraine that need to be worked out. The Black Sea initiative is on the agenda in these talks. There is a common understanding with the US on the willingness to move towards a settlement
H/t Newsquawk for Geopol
Data on Deck: GDP/PCE
MONDAY, MARCH 24 PMI
TUESDAY, MARCH 25 New home sales
WEDNESDAY, MARCH 26 Durable-goods
THURSDAY, MARCH 27 GDP
FRIDAY, MARCH 28 PCE1
Summary and Final Market Check
